Atwood Oceanics Announces Agreement For Sale Of Standard Jackup Drilling Unit

(RTTNews) - Atwood Oceanics Inc. (ATW) announced that one of its subsidiaries had entered into a definitive agreement for the sale of its standard jackup drilling unit, the Vicksburg, to Gulf Drilling International Ltd for a sales price of $55.4 million.

Rob Saltiel, Atwood Oceanics President and CEO, said, "The sale of the Vicksburg supports our strategy of high-grading the quality and capability of our drilling rig fleet through newbuild construction and selective asset divestitures."

Atwood Oceanics is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company currently owns 13 mobile offshore drilling units and is constructing four ultra-deepwater drillships.